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Markets regulator SEBI has greenlit the proposed IPO of lending tech startup Fibe, formerly known as EarlySalary. According to SEBI’s latest processing status, the regulator issued its final observation on the offer documents of Fibe parent Social Worth Technologies Ltd today. In SEBI parlance, the issuance of final observations signals the regulator’s go-ahead for a company to proceed with its public issue. Fibe filed its DRHP in June this year. As per the draft documents, its public issue will comprise a fresh issue of shares worth up to ₹750 Cr and an offer-for-sale (OFS) component of more than 4 Cr equity shares. The IPO will provide a major liquidity event to the startup’s investors. TPG will be the largest selling shareholder, offloading up to 1.17 Cr shares through its investment entity The Rise Fund III SF Pte Ltd. Norwest Capital and Eight Roads Ventures plan to sell up to 67.38 Lakh and 65.56 Lakh shares, respectively. Piramal Finance, TR Capital, IDG Ventures, and Chiratae Ventures are among the other investors looking to pare their stakes through the OFS. The startup plans to invest ₹562.6 Cr from the fresh issue proceeds in its NBFC subsidiary, EarlySalary Services Pvt Ltd, over the next two fiscal years. The capital infusion will be used to augment the subsidiary’s capital base and support its lending requirements. The remaining proceeds will be used for general corporate purposes. Fibe may also consider raising up to ₹150 Cr in a pre-IPO placement. Founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe operates a digital consumer lending platform offering personal loans and purpose-driven financing solutions. It also offers financing embedded at the point of purchase across segments such as education, insurance, healthcare, rooftop solar, travel, and ecommerce. On the financial front, Fibe’s net profit more than doubled to ₹257.5 Cr in FY26 from ₹113.7 Cr in the previous fiscal year. Its operating revenue grew 31% to ₹1,584.6 Cr from ₹1,208.9 Cr in FY25. The startup’s assets under management grew at a compound annual growth rate of 45.49% to ₹8,602.7 Cr as of March 31, 2026, from ₹4,064.2 Cr as of March 31, 2024. Fibe has raised close to $300 Mn to date. TPG’s The Rise Fund III is Fibe’s largest shareholder with a 23.26% stake, followed by Norwest Capital and Eight Roads Ventures with about 13% each. Cofounder and CEO Mehrotra owns 2.1%, while cofounder and CFO Goyal holds a 1.75% stake.
document fetched 2026-09-16 02:57 · canonical https://inc42.com/buzz/sebi-greenlights-lending-tech-startup-fibes-%e2%82%b9750-cr-ipo